Compass Wealth Management LLC purchased a new stake in Nucor Corporation (NYSE:NUE – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,781 shares of the basic materials company’s stock, valued at approximately $4,406,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NUE. Stance Capital LLC bought a new stake in Nucor during the 3rd quarter worth approximately $25,000. Strive Financial Group LLC bought a new position in Nucor in the fourth quarter valued at approximately $27,000. Bell Investment Advisors Inc acquired a new position in shares of Nucor in the second quarter valued at approximately $28,000. Motiv8 Investments LLC acquired a new position in shares of Nucor in the fourth quarter valued at approximately $32,000. Finally, Bartlett & CO. Wealth Management LLC increased its position in shares of Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 63 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. Argus boosted their price objective on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, May 15th. The Goldman Sachs Group upped their price target on Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Bank of America decreased their price target on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Barclays increased their target price on shares of Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Finally, UBS Group lifted their price target on shares of Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and an average price target of $273.31.
Insider Activity at Nucor
In other Nucor news, COO Stephen D. Laxton sold 3,968 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the sale, the chief operating officer directly owned 77,867 shares in the company, valued at $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the sale, the executive vice president owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 18,528 shares of company stock worth $4,793,035. Insiders own 0.62% of the company’s stock.
Nucor Stock Down 2.9%
NUE opened at $264.74 on Wednesday. The stock’s fifty day simple moving average is $247.76 and its 200 day simple moving average is $215.68. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $280.11. The stock has a market cap of $60.06 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 0.60 and a beta of 1.89. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27.
Nucor (NYSE:NUE – Get Free Report) last released its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same period in the previous year, the business posted $2.60 earnings per share. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, research analysts expect that Nucor Corporation will post 17.95 earnings per share for the current year.
Nucor Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.8%. Nucor’s payout ratio is presently 17.86%.
Nucor Profile
Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.
Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.
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